Forex Daily Analysis : March 19, 2021

The daily forex analysis of March 19, 2021 will discuss the movement of AUDUSD. The decline in the movement of the Aussie Dollar against the US Dollar in trading on Thursday, March 18, 2021 yesterday had made market participants panic, the cause of the weakening of the Aussie Dollar was due to the strength of the US Dollar currency and the rise in the value of long-term bond yields for the US government. Despite the positive release of Australian economic data, it is employment data. In Friday's trading in the Asian session, it is expected that the AUDUSD movement will still decline. This happened because the US dollar is still strengthening and after the release of negative Australian economic data. The data is Retail Sales data, Australian Retail Sales data has been released at 07:30 WIB this morning. It was released -1.1% lower than the prediction (0.6%) and the previous period (0.5%). The greenback had weakened quite deeply against several other major currencies in the market movement last Thursday. This weakness was caused by a statement of attitude from the US Central Bank TheFed. Jerome Powell as the chairman of the Central Bank of America gave a dovish view. Previously, market participants predicted that Powell would raise his interest rate to support the country's economy to recover from the Covid-19 pandemic soon. American economic growth this year is estimated at 6.5 percent and is the highest jump since 1984. The hope of an increase in the US economic level after the Covid-19 pandemic that attacked all countries in the world. The inflation rate is predicted to be at the level of 2% - 4%, which is a higher level than the previous estimate of 2%. Although this forecast will still be achieved, the Fed will maintain its decision to carry out monetary policy and fiscal stimulus and maintain interest rates at the level of 0% - 0.25% despite rising inflation rates. In addition, the Central Bank will also continue the program for bond purchases of US $120 billion per month in order to spur a sustainable economic recovery. Jerome Powell also argued that the current increase in inflation is only temporary, so it is not seen as too much needed to carry out policies such as raising interest rates and other monetary tightening.

Forex Daily Analysis Predictions

Today's FOREX prediction on the AUDUSD pair is expected to weaken/decline and the recommended OP (Open Position) is SELL at the level of 0.77150. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
This the daily analysis of forex on March 19, 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.